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A detailed plan outlining workforce development and a PILOT request that will reduce board of education taxes, but not municipal taxes, are a part of Fasano Properties request to bring a Dollar Tree store to Main Street.

The payment in lieu of taxes [PILOT] is a structured tax abatement program that permits reduced taxes during the initial years of an agreement that increase exponentially each year during a five-year time frame.

This is the third iteration to improve the western side of Main Street between Third and Fourth avenues, where a long vacant Getty Gas Station remains.

New site plans call for the Dollar Tree, originally pitched at the Getty Gas Station [at right], to be placed at the corner of Third and Main, where a mattress store now exists.

“Several problems occurred as we got further into the development process,” said William Stuckey, Fasano Properties Vice President of Development.

Poor soils at Getty Gas Station, a costly steel structure, and a reduced floor plan to accommodate an unloading zone contributed to the shift in plans, Stuckey said.

While no new site plans have been submitted, Stuckey did outline changes to the PILOT request.

“Taxes are somewhat high in Asbury Park and Dollar Tree has a figure that they typically pay,” Stuckey said. “We want to do this so that it is revenue neutral over the next five years for the city.”

This means the municipal budget would not lose out on expected taxes due to an initial increased assessment, Stuckey said. Instead of the anticipated $350,000 tax collection over the next 22 year if the project is not developmed, the taxes would almost double to $600,000 if the abatement is granted and the project comes to fruition.

What has been reduced is the expected board of education and county tax portions of the tax bill, he said.

The PILOT comes with a promise to do everything possible to ensure the store’s expected 30 employees hail from Asbury Park.

Stuckey said in conversations with Councilwoman Yvonne Clayton and Dollar Tree’s Senior Vice President of Operations, he would work with city organizations to distribute and collect applications as the hiring process gets underway.

He also committed to speaking and working with the Asbury School District’s College and Career Readiness, Boys and Girls Club, Interfaith Neighbors, Community Action Network, Community Development Initiative and the City’s Communication Director in order to further the goal.

“For the store and assistant manager position, you can apply online,” Stuckey said. “The jobs are advertised on their website but they do not advertise for hourly employees, but you can apply for the hourly jobs online.”

Stuckey said he would distribute applications to the aforementioned organizations 90 days prior to the store’s opening and collect them 2 months later.

“I would ask that they give the people of Asbury Park a real close look,” Stuckey said. “I’m committed to doing it – it is some work but I’m happy to do it.”

While the new plans will need Planning Board approval before the City Council grants a PILOT agreement, they did give a nod to the conceptual plans.

The conceptual approval allows Fasano Properties to move forward with its next steps but does not bind the City Council to any agreement, municipal attorney Frederick Raffetto said.

Next steps include finalizing an access agreement with the neighboring property owner, finalizing a lease agreement with the Dollar Tree, and Planning Board approval.

Stuckey said construction could begin in December, with a target November 2017 opening.

“We are trying to work through the lease and ascertain costs before moving forward,” Stuckey said. “I think [the plan] cleans up that corner of Third and Main.”

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